Bank of Montreal Can lessened its position in Tenaris S.A. (NYSE:TS – Get Rating) by 72.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,003 shares of the industrial products company's stock after selling 57,801 shares during the period. Bank of Montreal Can's holdings in Tenaris were worth $776,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in shares of Tenaris in the 4th quarter worth $28,000. Captrust Financial Advisors raised its position in shares of Tenaris by 155.8% during the second quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company's stock worth $29,000 after purchasing an additional 676 shares during the period. Ronald Blue Trust Inc. raised its position in shares of Tenaris by 50.7% during the third quarter. Ronald Blue Trust Inc. now owns 1,278 shares of the industrial products company's stock worth $32,000 after purchasing an additional 430 shares during the period. IFP Advisors Inc raised its position in shares of Tenaris by 345.2% during the third quarter. IFP Advisors Inc now owns 926 shares of the industrial products company's stock worth $45,000 after purchasing an additional 718 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of Tenaris during the third quarter worth $45,000. Institutional investors own 12.15% of the company's stock.
Get Tenaris alerts:Tenaris Trading Up 3.2 %
Shares of TS stock opened at $28.71 on Friday. Tenaris S.A. has a 1-year low of $22.24 and a 1-year high of $38.00. The company has a market capitalization of $16.95 billion, a price-to-earnings ratio of 5.33, a P/E/G ratio of 2.27 and a beta of 1.44. The stock's fifty day simple moving average is $30.37 and its 200-day simple moving average is $32.24.
Tenaris (NYSE:TS – Get Rating) last issued its earnings results on Wednesday, February 15th. The industrial products company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.01). Tenaris had a net margin of 23.49% and a return on equity of 23.75%. The firm had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.60 billion. On average, sell-side analysts predict that Tenaris S.A. will post 5.98 EPS for the current year.
Tenaris Increases Dividend
The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Tuesday, May 23rd will be paid a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 22nd. This is an increase from Tenaris's previous semi-annual dividend of $0.56. Tenaris's payout ratio is 12.62%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Cowen boosted their target price on Tenaris from $45.00 to $49.00 in a research report on Friday, February 17th. Morgan Stanley cut their target price on Tenaris from $44.00 to $40.00 in a research report on Tuesday, April 18th. Finally, StockNews.com lowered Tenaris from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $44.29.
About Tenaris
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Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.
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